By Frances Traynor
19th January 2018
Thu 26 Oct 2017 by Frances Traynor
Moves are underway to simplify and modernise the conveyancing process by which homes are sold in England and Wales. The Conveyancing Association (CA), the trade body for the industry in the UK, has published a strategic plan for reform with three key aims:
Among the proposals outlined in the plan – entitled Building the Framework for the Future – is the introduction of e-home reports that would provide buyers with upfront information on a property. These would be similar to the home information packs (HIPs) that were introduced in 2003 but abolished in 2011 in England and Wales.
Radical changes to the lending process are also proposed with the CA keen to see a system introduced that would let buyers ask for and receive automated decisions in principle before making an offer.
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Other suggestions from the CA are leasehold reform, the transfer of monies the day before completion rather on the day itself and setting up a secure portal that allows all parties involved to communicate more efficiently.
Poor communication is an issue that has dogged the conveyancing process for years. A CA survey found that almost a quarter of those questioned thought a house sale or purchase had fallen through because of poor communication between the professionals involved.
The CA has identified eight work streams within which it proposes to work with its member firms and with key players in the property industry to lobby government for changes in conveyancing law.
Beth Rudolf is director of delivery with the CA. She said: "The eight work streams outlined are focused on areas which we believe require significant attention but also have the capacity to make the most difference to all those who take some part in the purchase of a home.
"They cover a wide range of intended deliverables and, for some, come with a number of unique and not inconsiderable challenges to meet. However, at the CA we believe that just because these may be difficult to achieve, it doesn't mean we should shirk from them."
While those welcome changes and reform to the conveyancing system may be some way off, for those who need a qualified and certified solicitor or conveyancer for sale or purchase right now, Homeward Legal has the answer, and with a seven-day operation, we ensure the lines of communication stay open with the people who matter – you.
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